Imports of new passenger cars, especially those originating from China, have temporarily surged in Brazil. This increase is largely attributed to the growing demand for electric vehicles and the imminent implementation of import taxes on them.
During the first quarter of 2024, passenger car imports in the country surged by 46.4%, reaching a combined value of $1.5 billion. Approximately 40% of these cars originated from China, marking a massive 450% increase from Q1 2023. The majority of vehicles imported from China are battery-electric vehicles and hybrids.
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